MinebeaMitsumi Inc. is preparing to launch a friendly tender offer for Shibaura Electronics Co., challenging Taiwanese component maker Yageo Corp.’s unsolicited bid in a rare defensive move by a Japanese company, according to Nikkei.
The bearings manufacturer aims to keep Shibaura’s thermistor technology in Japan while expanding its own electronic components business. MinebeaMitsumi’s offer is expected to exceed Yageo’s ¥4,300 ($29) per-share bid announced in February, potentially valuing Shibaura at approximately ¥70 billion ($471 million).
Shibaura, which controls 13.5% of the global market for high-precision temperature sensors critical for electric vehicles and industrial robots, is expected to endorse MinebeaMitsumi’s proposal. The companies plan to announce the deal as early as today, according to sources familiar with the matter.
Yageo had planned to proceed with its takeover bid on May 7 regardless of Shibaura’s position. The Taiwanese firm, which has expanded through acquisitions including a French sensor business purchased in 2023, held its first face-to-face meeting with Shibaura just last week after months of written exchanges.
The counterbid highlights growing concerns about foreign acquisitions of Japanese technology companies and could signal accelerating industry consolidation triggered by cross-border takeover attempts.
